China’s copper mineral imports reach a record level – Commerzbank

China’s commercial data also support the impression of a continuous and strong copper demand in the most important market for metal, which is essential for electrification, says Thu Lan Nguyen, commerzbank raw material analyst.

The largest mining producer in Chile increases its production

“Copper imports may have fallen compared to March and the previous year. However, copper ore imports reached a record level. Consequently, copper production in China continues to show signs of expansion. This indicates that companies in China are increasingly covering their copper needs with national production, which in turn also favors moderate copper imports in the coming months.”

“The strong imports of copper mineral are interesting to the extent that there have recently there have been signs of mineral scarcity, as can be seen in the low treatments and refining positions, among other things. The strong Chinese imports of the raw material could lead to a shortage outside the country and, consequently, to a reduction in the production of metal there, which in turn would strengthen China’s dominance as a producer of China.

“This could represent a challenge for countries that wish to become increasingly independent from China. However, the news that the largest mining producer in Chile has been able to recently increase its production after not fulfilling expectations in recent years, partly due to operational problems, it provides some relief in this regard.”

Source: Fx Street

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